Oppenheimer Comments on Barnes Group Inc.’s Q4 2019 Earnings (NYSE:B)

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Barnes Group Inc. (NYSE:B) – Research analysts at Oppenheimer decreased their Q4 2019 earnings estimates for shares of Barnes Group in a research note issued on Wednesday, October 16th. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will post earnings per share of $0.85 for the quarter, down from their prior forecast of $0.93.

B has been the topic of a number of other research reports. UBS Group cut their target price on shares of Barnes Group from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Zacks Investment Research lowered shares of Barnes Group from a “hold” rating to a “sell” rating and set a $55.00 target price on the stock. in a research note on Thursday, August 1st. Finally, ValuEngine raised shares of Barnes Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $56.40.

Shares of B opened at $52.77 on Monday. The firm’s 50-day moving average price is $50.46 and its 200-day moving average price is $52.07. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.69 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 0.73. Barnes Group has a 1-year low of $42.39 and a 1-year high of $61.98.

Barnes Group (NYSE:B) last announced its earnings results on Friday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $387.29 million. Barnes Group had a net margin of 9.95% and a return on equity of 13.20%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS.

Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Barnes Group by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,359 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 362 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Barnes Group by 15.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,260 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 300 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Barnes Group in the third quarter valued at $447,000. Diversified Trust Co raised its stake in shares of Barnes Group by 7.1% in the third quarter. Diversified Trust Co now owns 6,400 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 425 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Barnes Group by 128.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,707 shares of the industrial products company’s stock worth $1,891,000 after buying an additional 20,614 shares during the period. Hedge funds and other institutional investors own 85.90% of the company’s stock.

In other news, Director Mylle H. Mangum sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $51.89, for a total value of $51,890.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marian Acker sold 5,018 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $53.88, for a total transaction of $270,369.84. The disclosure for this sale can be found here. Insiders have sold 8,757 shares of company stock worth $445,632 in the last three months. 8.35% of the stock is currently owned by insiders.

Barnes Group Company Profile

Barnes Group Inc operates as an industrial and aerospace manufacturer, and service provider in the United States and internationally. Its Industrial segment offers precision components, products, and systems for applications serving various customers in end-markets, such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices.

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Earnings History and Estimates for Barnes Group (NYSE:B)

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